Bitcoin at $124.5K; Market Cap $4.25T; Ethereum Nears $4.8K
Bitcoin surged to a record $124,500 on August 14, extending its rally amid growing institutional demand. Bitcoin climbed 3.5% in 24 hours, trading around $123,760 at the time of writing, according to OKX data. The total cryptocurrency market cap also broke above $4.25 trillion, marking a new all-time high. Ethereum followed closely, briefly touching $4,784—just $87 shy of its $4,871 peak. If Bitcoin maintains its gains, Ethereum could soon test fresh highs, reinforcing bullish momentum across the crypto market.
Bullish
Bitcoin’s record surge to $124,500 and the crypto market cap surpassing $4.25T signal strong bullish momentum. Heightened buying pressure and positive investor sentiment are likely to drive further upside in both Bitcoin and major altcoins like Ethereum. Historically, when Bitcoin breaks to new highs, altcoins often follow, fueling an extended bull run. Traders may view this breakout as an entry opportunity, boosting short-term trading volumes and volatility, while reinforcing long-term confidence in crypto assets.